PNC Financial Services Group Inc. Has $520,000 Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

PNC Financial Services Group Inc. cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 21.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,543 shares of the company’s stock after selling 2,361 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Affirm were worth $520,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AFRM. Geneos Wealth Management Inc. increased its holdings in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd acquired a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Advisors Asset Management Inc. increased its holdings in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the last quarter. Valley National Advisers Inc. bought a new stake in Affirm in the 4th quarter valued at $61,000. Finally, Bogart Wealth LLC bought a new stake in Affirm in the 4th quarter valued at $61,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AFRM has been the subject of several recent research reports. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. UBS Group boosted their price target on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Barclays upped their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $68.41.

Affirm Price Performance

Shares of AFRM opened at $47.71 on Thursday. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53. The business has a 50-day simple moving average of $61.00 and a two-hundred day simple moving average of $55.95. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a market cap of $15.17 billion, a PE ratio of -73.40 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the sale, the director now owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the sale, the director now directly owns 38,997 shares of the company’s stock, valued at approximately $1,785,282.66. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock valued at $3,920,543 in the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.